PACCAR Sees Unusually Large Options Volume (NASDAQ:PCAR)

PACCAR Inc (NASDAQ:PCAR - Get Free Report) was the recipient of unusually large options trading on Wednesday. Stock investors purchased 2,591 put options on the stock. This is an increase of 40% compared to the average daily volume of 1,847 put options.

PACCAR Stock Up 2.6 %

NASDAQ PCAR traded up $2.73 on Wednesday, hitting $108.33. 3,209,880 shares of the stock traded hands, compared to its average volume of 2,425,812. The stock has a 50-day moving average of $114.91 and a 200 day moving average of $104.76. PACCAR has a twelve month low of $68.40 and a twelve month high of $125.50. The company has a market capitalization of $56.78 billion, a P/E ratio of 10.95, a price-to-earnings-growth ratio of 1.63 and a beta of 0.96. The company has a current ratio of 2.73, a quick ratio of 2.49 and a debt-to-equity ratio of 0.54.

PACCAR (NASDAQ:PCAR - Get Free Report) last announced its quarterly earnings data on Tuesday, April 30th. The company reported $2.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.20 by $0.07. The firm had revenue of $8.24 billion for the quarter, compared to analysts' expectations of $8.25 billion. PACCAR had a return on equity of 31.71% and a net margin of 14.30%. PACCAR's revenue for the quarter was up 2.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.25 earnings per share. As a group, analysts expect that PACCAR will post 8.26 earnings per share for the current fiscal year.

PACCAR Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 5th. Investors of record on Wednesday, May 15th will be issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 1.11%. This is a positive change from PACCAR's previous quarterly dividend of $0.27. The ex-dividend date is Tuesday, May 14th. PACCAR's dividend payout ratio is 12.45%.

Insider Buying and Selling

In related news, CEO R Preston Feight sold 33,850 shares of PACCAR stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $106.18, for a total transaction of $3,594,193.00. Following the completion of the transaction, the chief executive officer now directly owns 154,430 shares of the company's stock, valued at $16,397,377.40. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, VP Michael K. Walton sold 9,123 shares of the business's stock in a transaction on Monday, May 6th. The stock was sold at an average price of $105.11, for a total value of $958,918.53. Following the completion of the transaction, the vice president now directly owns 1,468 shares of the company's stock, valued at $154,301.48. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO R Preston Feight sold 33,850 shares of the business's stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $106.18, for a total value of $3,594,193.00. Following the completion of the transaction, the chief executive officer now directly owns 154,430 shares of the company's stock, valued at $16,397,377.40. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 45,040 shares of company stock valued at $4,779,241. 2.02% of the stock is owned by insiders.

Hedge Funds Weigh In On PACCAR

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. PSI Advisors LLC bought a new position in PACCAR in the 1st quarter worth approximately $25,000. AdvisorNet Financial Inc boosted its stake in PACCAR by 188.5% during the 4th quarter. AdvisorNet Financial Inc now owns 277 shares of the company's stock valued at $27,000 after purchasing an additional 181 shares in the last quarter. YHB Investment Advisors Inc. bought a new position in PACCAR during the 1st quarter valued at $27,000. New Covenant Trust Company N.A. bought a new position in PACCAR during the 1st quarter valued at $27,000. Finally, Riverview Trust Co bought a new position in PACCAR during the 1st quarter valued at $29,000. 64.90% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently commented on PCAR. Truist Financial reaffirmed a "hold" rating and issued a $121.00 price objective (up previously from $117.00) on shares of PACCAR in a research report on Thursday, May 2nd. JPMorgan Chase & Co. lowered their price objective on PACCAR from $140.00 to $130.00 and set an "overweight" rating for the company in a research report on Wednesday, May 1st. The Goldman Sachs Group lifted their price objective on PACCAR from $106.00 to $121.00 and gave the company a "neutral" rating in a research report on Tuesday, April 16th. TD Cowen lifted their price objective on PACCAR from $91.00 to $108.00 and gave the company a "market perform" rating in a research report on Wednesday, January 24th. Finally, UBS Group raised PACCAR from a "neutral" rating to a "buy" rating and boosted their price target for the company from $104.00 to $136.00 in a research report on Friday, March 15th. Seven investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $112.62.

About PACCAR

PACCAR Inc designs, manufactures, and distributes light, medium, and heavy-duty commercial trucks in the United States, Canada, Europe, Mexico, South America, Australia, and internationally. It operates through three segments: Truck, Parts, and Financial Services. The Truck segment designs, manufactures, and distributes trucks for the over-the-road and off-highway hauling of commercial and consumer goods.